Sanctuary Advisors LLC Buys Shares of 10,042 Spectrum Brands Holdings Inc. $SPB

Sanctuary Advisors LLC acquired a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) during the first quarter, HoldingsChannel reports. The fund acquired 10,042 shares of the company’s stock, valued at approximately $740,000.

Other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC boosted its stake in shares of Spectrum Brands by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after buying an additional 140 shares in the last quarter. Federated Hermes Inc. raised its position in Spectrum Brands by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock worth $712,000 after acquiring an additional 157 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares during the period. Finally, CWM LLC lifted its holdings in Spectrum Brands by 58.2% in the fourth quarter. CWM LLC now owns 1,237 shares of the company’s stock valued at $73,000 after acquiring an additional 455 shares during the period.

Spectrum Brands Stock Up 0.1%

SPB opened at $88.91 on Monday. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $90.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The business has a 50-day moving average of $82.98 and a two-hundred day moving average of $77.48. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, research analysts expect that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. Spectrum Brands’s payout ratio is presently 35.88%.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price target on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.